20 Nov 2015

Ryman Healthcare boosts profits

6:01 pm on 20 November 2015

Retirement village operator Ryman Healthcare has reported a higher net profit as it heads towards record building rates.

Its net profit jumped 23 percent to almost $132.6 million in the six months to the end of September, compared with last year.

Leaving aside unrealised gains on properties, its underlying profit rose 6 percent to about $70.3 million.

Ryman built about 160 units in the period and was expected to construct a record 950 units and beds in the full year.

Four new villages were expected to open in the next six months, and the firm was confident of achieving 15 percent growth in underlying profit for the full year.

Shareholders would receive an interim dividend of 7.3 cents per share.